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Varonis: 2Q Earnings Snapshot

July 30, 2018

NEW YORK (AP) _ Varonis Systems Inc. (VRNS) on Monday reported a loss of $12.7 million in its second quarter.

The New York-based company said it had a loss of 44 cents per share. Losses, adjusted for stock option expense, were 8 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 6 cents per share.

The data-management software company posted revenue of $62.2 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $62.1 million.

For the current quarter ending in October, Varonis expects its results to range from a loss of 2 cents per share to earnings of 1 cent per share.

The company said it expects revenue in the range of $64 million to $65 million for the fiscal third quarter.

Varonis expects full-year revenue in the range of $265 million to $268.5 million.

Varonis shares have risen 48 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $71.90, a climb of 93 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VRNS at https://www.zacks.com/ap/VRNS

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